Monday, April 25, 2016

Big Money in Home Sales

Has the American housing market completely recovered from the hosing bubble and the Great Recession? U.S. home sellers in March on average sold for $30,500 more than those homes were purchased for. That means a 17 percent average gain in price.

That's the highest average price gain for home sellers in any month since December 2007 at the onset of the Great Recession, according to RealtyTrac, a housing data source.

The median sales price of single family homes and condos in March was $210,000, up 9 percent from the previous month and up 11 percent from a year ago. March was the 49th consecutive month with a year-over-year increase in the U.S. median home price, which is still 8 percent below its previous peak of $228,000 in July 2005.

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